FIL Ltd Decreases Position in J2 Global Inc (JCOM)

FIL Ltd cut its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 32.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 525,700 shares of the technology company’s stock after selling 250,000 shares during the quarter. FIL Ltd owned 1.07% of J2 Global worth $43,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in shares of J2 Global by 6.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock valued at $4,818,000 after purchasing an additional 3,482 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of J2 Global by 2.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock valued at $4,518,000 after purchasing an additional 1,275 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of J2 Global during the 2nd quarter valued at approximately $194,000. Martingale Asset Management L P grew its holdings in J2 Global by 1.7% during the 2nd quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in J2 Global by 189.0% during the 3rd quarter. Bank of Montreal Can now owns 34,005 shares of the technology company’s stock worth $2,817,000 after acquiring an additional 22,238 shares during the last quarter. 98.54% of the stock is currently owned by institutional investors.

JCOM opened at $71.63 on Monday. J2 Global Inc has a fifty-two week low of $69.09 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94.

J2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Monday, November 5th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.12. The firm had revenue of $292.72 million for the quarter, compared to the consensus estimate of $295.19 million. J2 Global had a net margin of 10.86% and a return on equity of 26.70%. Equities research analysts forecast that J2 Global Inc will post 5.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be given a $0.435 dividend. The ex-dividend date is Friday, November 16th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from J2 Global’s previous quarterly dividend of $0.43. J2 Global’s payout ratio is 32.16%.

In other news, CEO Vivek Shah sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $72.55, for a total value of $217,650.00. Following the transaction, the chief executive officer now owns 717,830 shares in the company, valued at approximately $52,078,566.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve P. Dunn sold 1,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $83.90, for a total transaction of $88,262.80. Following the completion of the transaction, the insider now owns 18,416 shares in the company, valued at approximately $1,545,102.40. The disclosure for this sale can be found here. Insiders sold a total of 10,052 shares of company stock worth $768,303 in the last 90 days. Corporate insiders own 5.97% of the company’s stock.

A number of equities research analysts have weighed in on JCOM shares. BidaskClub raised shares of J2 Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Citigroup reduced their target price on shares of J2 Global from $88.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. Wedbush started coverage on shares of J2 Global in a report on Thursday, October 18th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, ValuEngine lowered shares of J2 Global from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. J2 Global currently has a consensus rating of “Hold” and an average price target of $93.25.

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About J2 Global

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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